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New Rent-A-Center Offer to Ease Access to Smartphones, Dispense with Upfront Costs

[July 10, 2014]

New Rent-A-Center Offer to Ease Access to Smartphones, Dispense with Upfront Costs

PLANO, Texas --(Business Wire)--

With the launch of no-contract airtime plans, Rent-A-Center, Inc.
(NASDAQ/NGS:RCII), the nation's largest rent-to-own operator, today
announced its foray into the burgeoning smartphone business.

The move offers consumers nationwide one-stop shopping for a variety of
leading, name-brand smartphones and no-contract plans, a rent-to-own
industry first. It also breaks ground with its flexibility: Phones may
be rented in connection with the immediate activation of a no-contract
airtime plan, or without. A choice in the brand of airtime plans is
offered, and customers may even opt to activate a plan for a phone not
rented through Rent-A-Center. Additionally, airtime plans may be
reloaded at Rent-A-Center stores, regardless of one's cellular carrier.

Launched this week, the smartphone rollout across Rent-A-Center's
2800-plus stores is expected to be completed by month's end and was
spurred by the success of a pilot program launched last summer.

The offer is expecte to appeal to cash- and credit-strapped consumers
put off by the high upfront cost of acquiring a smartphone.

Competitively priced and sans credit check, deposit and long-term
contract, the Rent-A-Center offer distinguishes itself from standard
smartphone and airtime plans. It also compares favorably to traditional
no-contract plans since the cash outlay to acquire a smartphone through
a rent-to-own agreement is minimal; customers need not purchase a new
phone in order to upgrade, and warranty and service are included at no
additional cost.

"There's already a pronounced appetite for smartphones and no-contract
airtime plans," said Rent-A-Center CEO Robert Davis. "By heightening
flexibility and choices while lessening a consumer's initial cash
outlay, we believe we have meaningfully enhanced this product."

Rent-A-Center, Inc., headquartered in Plano, Texas, is the largest
rent-to-own operator in North America, focused on improving the quality
of life for its customers by providing them the opportunity to obtain
ownership of high-quality, durable goods such as consumer electronics,
appliances, computers, furniture and accessories, under flexible rental
purchase agreements with no long-term obligation. The Company owns and
operates approximately 3,030 stores in the United States, Canada, Mexico
and Puerto Rico, and approximately 1,360 AcceptanceNOW kiosk locations
in the United States and Puerto Rico. Rent-A-Center Franchising
International, Inc. (previously ColorTyme, Inc.), a wholly owned
subsidiary of the Company, is a franchisor of approximately 180
rent-to-own stores operating under the trade name of "Rent-A-Center,"
"ColorTyme," or "RimTyme." For additional information about the Company,
please visit www.rentacenter.com.